Smokefree Innotec Inc (OTCMKTS:SFIO) may not have performed particularly well over the past week but on Monday the company made a major announcement that could bring the stock into the radars of investors again. Over the course of the past week, the SFIO stock has recorded declines of as much as 16%.
However, on Monday, the company announced that it completed the strategic acquisitions of Big Lou’s Donuts and MLV Group through its whole owned Australian subsidiary company Accord Investment Group. The two strategic acquisitions are vital for SFIO as the conglomerate seeks to act on its $100 million road map for next year.
The acquisition of Big Lou’s Donuts is particularly interesting considering the fact that it is an established Australian company that is already successful. It is involved in the production of a wide range of donuts for both wholesale and retail markets.
The company boasts of an high tech factory which can help in producing as many as 9000 donuts an hour. On the other hand, MLV Group is a well known accounting firm based out of Australia that serves in excess of 5000 clients at this point in time.
